** Trading platform Robinhood's shares HOOD.O up 0.6% at $62.96

** Needham raises PT of HOOD to $71 from $58, a ~13.5% upside to stock's last close

** Brokerage expects HOOD to launch new crypto-related products

** "We believe HOOD will become more competitive within crypto specifically," says Needham

** Adds that co is positioned to be a major beneficiary of more positive regulations within the crypto space

** Fourteen of 21 brokerages rate the stock "buy" or higher, seven "hold"; their median PT is $62 - LSEG data

** Including session's move, stock up ~69% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))